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Consortium Legal - El Salvador 

August, 2020 - Antiguo Cuscatlán, El Salvador

 

 

Ministry of Finance and Superintendency of the Financial System Execute Agreement to Combat Tax Evasion

 

On August 7, 2020, Finance Minister Alejandro Zelaya and the Superintendent of the Financial System, Gustavo Villatoro, signed a Technical Cooperation Agreement, with the aim of improving the exchange of information to combat tax evasion and streamline processes with the use of new technologies, in order to strengthen the Anti-Tax Evasion Plan.

The Minister of Finance said at a press conference held the same day on the occasion of the signing of the agreement that the Anti-Evasion Plan seeks an alternative to the low tax collection as a result of the COVID-19 pandemic, and thus close the gap in the fiscal deficit, without the need to create new taxes or increase existing ones.

Both the Minister of Finance and the Superintendent of the Financial System stated that this is one of the first agreements that both institutions will sign in order to modernize operations in different state entities, and that later agreements will be signed with institutions such as the National Registration Center (NRC), the Social Fund for Housing (SFH), the Salvadoran Social Security Institute (SSSI), the Vice Ministry of Transportation (VMT) and the Ministry of Government (MG), to combat tax evasion and bureaucracy

To know the full content of the publication, you can access the website of the Ministry of Finance, or by clicking on the following link:

https://www.mh.gob.sv/pmh/es/Novedades/13951-Hacienda-Superintendencia-Sistema-Financiero-firman-acuerdo-combatir-Evasion-Fiscal-Burocracia.html

For any additional questions, please contact Dr. Diego Martin ([email protected]) and/or Mr. William Escobar ([email protected]).


 

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